ECS1601 Economics IB
University of South Africa
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ECS1601 ASSIGNMENT 5 SEMESTER 2 2022
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ECS1601 ASSIGNMENT 5 
SEMESTER 2 2022 
S - The study-notes marketplace 
Question 1 
Which of the following statements is correct? 
a. Restrictive fiscal and monetary policies are applied 
during periods of economic growth (boom). 
b. Fiscal policy entails changes in the interest rate. 
c. The impact lag is longer for fiscal policy than for 
monetary policy. 
d. The decision lag is shorter for fiscal policy than for 
monetary policy. 
Refer to section 9.3 of the prescribed textbook. 
Suppose that...
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ECS1601 Study Unit Summaries -2022.
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ECS1601 Study Unit Summaries -2022. 
1 
ECS1601 
LEARNING UNITS 1 
PRODUCTION, INCOME AND SPENDING IN A MIXED ECONOMY 
- REVISION 
1.1 Make sure you remember the following from ECS1501: 
 What economics is all about (refer to section 1.1 of your textbook) 
Economics is the science of household management, where the household may vary in size from an 
individual living on his own to the economy of the country or the whole world. 
The basic essence of economics – there are unlimited wants, wh...
ECS1601 ASIGNMENT 7 
2022 
INCLUDES OCT/NOV 
EXAM 
ECS1601 ASIGNMENT 7 
2022 
INCLUDES OCT/NOV 
EXAM
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ECS1601 Exam Preparation For 2022 – Past Papers with verified Answers.
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ECS1601 Exam Preparation For 2022 – Past Papers with verified Answers. Households are confronted with unlimited wants, but with limited resources with which to satisfy 
those wants 
b) The scarcity of resources necessitate households to make choices 
- ANS-both a and b are correct 
Which of the following is/are correct regarding the distinction between macroeconomics and 
microeconomics? 
a) The price of apples at the supermarket is an example of a macroeconomic variable. 
b) An increase in th...
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ECS1601 EXAM REVISION PACK
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ECS1601 EXAM REVISION PACK 
SUGGESTED SOLUTION FOR 2016 May/June 
Question 1 
a) Money is anything that is generally accepted as payment for goods and services or that 
is accepted in settlement of debt. 
o Money is a generally acceptable means of payment 
o This is because people believe it will be accepted as payment by other people 
b) Three broad functions of government. 
o the allocative function, which refers to the role of government in correcting 
market failure and achieving a more effi...
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ECS1601 LATEST SUMMARY.
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ECS1601 LATEST 
SUMMARY. 
Study Unit 1 
Chapter 3 page 41 
Interdependence of the major sectors, markets and flows in a mixed economy 
3.1 Production, income and spending 
The three major flows in the economy as a whole: 
Production 
Income 
Spending 
Production occurs, creates income; and all or part of the income is spent to buy goods and services. 
Flows 
Production, income and spending are all flows. They are measured over a period of time. This period 
must be specified. These are moving pi...
ECS1601 Assignment 2 Semester 2 2022 
ECS1601 Assignment 2 Semester 2 2022
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ECS1601 Assignment 3 Semester 1& 2 2021.
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ECS1601 Assignment 3 Semester 1& 
2 2021. 
ECS1601 
ASSIGNMENT 3 SEMESTER 1 2021 
UNIQUE NUMBER: 
DISCLAIMER: Extreme care has been used to create this document, however the contents are provided “as is” without any 
representations or warranties, express or implied. This document is to be used for comparison, research and reference 
purposes ONLY. Directly submitting and/or reselling/ distribution / reproduction any part of this document is not permitted. 
PREVIEW OF QUESTION 1 
1. 3 Refer...
ECS1601 LATEST EXAM PACK. This is an all-inclusive and a complete guide to ECS1601 - Economics IB 
ECS1601 - Economics IB
ECS1601 EXAM PACK. This is a complete and an all-inclusive guide to ECS1601 - Economics.
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